# LIAM HALLIGAN: The Big Bang liberated Britain from statist torpor. So why, 40 years on, is Labour intent on dragging us back?

- URL: https://talkfuse.com/story/liam-halligan-the-big-bang-liberated-britain-from-statist-torpor-so-why-40-years-on-is-labour-intent-on-dragging-us-back/
- Published: 2026-10-28T01:03:22+00:00
- Updated: 2026-10-28T01:10:53+00:00
- Original publisher: Daily Mail (publisher lean: Right)
- Original article: https://www.dailymail.com/news/article-16243991/LIAM-HALLIGAN-Big-Bang-liberated-Britain-statist-torpor-40-years-Labour-intent-dragging-back.html?ns_mchannel=rss&ns_campaign=1490&ito=1490
- Topics: Americas, UK, World

## Key points

- Big Bang deregulation reshaped London’s financial markets.
- The article credits competition and tax cuts with helping revive the City.
- It also notes concerns about risk-taking and the City’s culture.

## Summary

The article argues that the 1986 “Big Bang” deregulation transformed the City of London by opening it to international competition and electronic trading. It presents the reform as a turning point that helped revive Britain’s financial sector and generate wealth, while criticising Labour for allegedly moving back towards higher taxes and greater state control.

The changes removed restrictions on banks and stockbrokers, welcomed foreign banks and helped shift trading away from the exchange floor. The article says corporation tax was cut from 52% to 35%, the basic income tax rate from 30% to 25% and the top rate from 60% to 40%. It also acknowledges concerns that the reforms encouraged a more transactional culture and excessive risk-taking, which some link to the 2008 financial crisis.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.